PART IV - ISSUES OF SECURITIES AND TAKE-OVERS AND MERGERS DIVISION 3 - PROSPECTUS
Section 42. Registration of prospectus.
(1) The Commission shall refuse to register a prospectus if-
(a) the Commission is of the opinion that the prospectus does not comply with any requirement or provision of this Act;
(b) the issue of, offer for subscription or purchase of, or invitation to subscribe for or purchase, securities to which the prospectus relates does not comply with any other requirement or provision of this Act;
(c) the Commission is of the opinion that the prospectus contains any statement or information that is false or misleading or that the prospectus contains any statement or information from which there is a material omission;
(d) the issue of, offer for subscription or purchase of, or invitation to subscribe for or purchase, securities to which the prospectus relates-
(i) requires the approval of the Commission under section 32 and such approval has not been given; or
(ii) does not comply with any term or condition imposed under subsection 32(5) ;
(e) in relation to a unit trust scheme or prescribed investment scheme, there has been a failure to comply with any term or condition in relation to an approval of a management company or trustee; or
(f) the Commission is of the opinion that the issuer has contravened any provision of the securities laws or the Companies Act 1965 and that such contravention would cast a doubt as to whether the issuer is a fit and proper person to make an issue of, offer for subscription or purchase of, or invitation to subscribe for or purchase, any securities.
(2) No prospectus shall be registered unless it is submitted to the Commission together with-
(a) a written application for its registration;
(b) true copies of all consents required under subsection 53(1) from any person named in the prospectus as having made a statement that is included in the prospectus or on which a statement made in the prospectus is based;
(c) true copies of all material contracts referred to in the prospectus or, in the case of a contract not reduced into writing, a memorandum giving full particulars thereof, verified in accordance with any requirements specified by the Commission; and
(d) all such information or documents as may be required by the Commission.
(3) An issuer shall cause a true copy of-
(a) any consent required under subsection 53(1) in relation to the issue of the prospectus; and
(b) every material contract or document referred to in the prospectus,
to be deposited-
(aa) at the registered office of the issuer in Malaysia, and if it has no registered office in Malaysia, at the address specified in the prospectus for that purpose; and
(bb) in the case of a unit trust scheme or prescribed investment scheme, at the registered office of the issuer and the trustee in Malaysia, at the address specified in the prospectus for that purpose,
within three days after the registration of the prospectus and shall keep each such copy, for such period as may be specified by the Commission, for inspection by any person without charge.